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प्रश्न
With the help of diagrams, show the effect of a change in demand (or shift in demand curves) on equilibrium price and quantity of a commodity when the supply curve is perfectly inelastic.
Using a diagram, show the effect of a change in demand (or shift in demand curves) on the price and quantity in the following situation:
When supply curve is perfectly inelastic.
Show with the help of a diagramme the effect of a change in demand on equilibrium price, when supply is perfectly inelastic.
आकृति
अति संक्षिप्त उत्तर
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उत्तर
When the supply curve is perfectly inelastic, a change in demand (increase or reduction) causes a change in the equilibrium price while the equilibrium quantity remains constant (OM). This is illustrated in the above figure.
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